Bonds, Loans & Sukuk Middle East 2021

Chairperson’s opening remarks

Tue 14th Sept 2021, 6:00am (Europe/London)

Speaker

Senior Managing Director, Head of Global Corporate Finance

Keynote address: Oil and gas financing in a rapidly transitioning world

Tue 14th Sept 2021, 6:15am (Europe/London)

What structural changes has the oil and gas markets experienced in the last 12 months? How do oil and gas companies adapt their finance and investments to adapt to these changes?
What is the new sustainable equilibrium price for oil? How does the new norm oil price impact capital markets’ and investment strategy?
The economics of sustainable energy: How are oil and gas businesses adapting to increasing demand for ESG implementation from stakeholders?
What structural changes has the oil and gas markets experienced in the last 12 months? How do oil and gas companies adapt their finance and investments to adapt to these changes?
What is the new sustainable equilibrium price for oil? How does the new norm oil price impact capital markets’ and investment strategy?
The economics of sustainable energy: How are oil and gas businesses adapting to increasing demand for ESG implementation from stakeholders?

Speaker

Chief Investment Officer

MENA Fixed Income and the (non)taper-tantrum: Are interest rates too low at this juncture?

Tue 14th Sept 2021, 6:45am (Europe/London)

Global vs. EM vs. MENA: Where does MENA fit within the global portfolio? How do MENA IG bonds compare to Asia IG?
Who’s going long and who sees a buying opportunity? Is a full recovery priced
into portfolios? Will there need to be a re-valuation? If so, when?
How is Biden’s policy towards the MENA region changing (if at all) ?
How could signs of a slowdown affect inflation?
Assessment of current liquidity levels vs. market expectation heading into 2022
Where do banks see the most growth in the market for tenors? How are development of Tier 1 and Tier 2 instruments developing to facilitate this growth?

Moderator

Head of Debt Capital Markets, Investment Banking

Speakers

Portfolio Manager, Head of Fixed Income

Investment Manager, Emerging Market Debt

Executive Director, Fixed Income Asset Management

Head of Fixed Income Investments

Head of Fixed Income Investments – Asset Management

Coffee and networking

Tue 14th Sept 2021, 7:40am (Europe/London)

Weathering the COVID storm and the economic after-shocks: How are corporates approaching funding through volatile times

Tue 14th Sept 2021, 8:20am (Europe/London)

Stories behind the big headlines: What were the risks (and successful outcomes) corporates faced when they attempted to approach the capital market in 2020?
Do MENA borrowers still prefer loan financing versus bonds/sukuk? What’s the desire to diversify investor/funding base eastwards?
How did SMEs with EBITDA >USD50m adapt their businesses and finances through the COVID-19 pandemic?
The market view on corporate credit deterioration and debt burdens: How will defaults trickle down to affect the credit environment post-COVID?

Moderator

Head of Corporate Debt Capital Markets, Middle East and North Africa

Speakers

Vice President, Treasury and Strategy

Vice President - Corporate Finance & Investor Relations

Acting Head of Global Corporate Finance

Regional Head, Middle East & Asia Pacific

Head of Treasury

Head of Capital Markets - Middle East

Syndicated loan markets: Can banks bridge the gap between borrower demands for better pricing and longer tenor

Tue 14th Sept 2021, 9:15am (Europe/London)

Demand > supply: Can banks bridge the gap between borrower demands for better pricing and longer tenor versus a backdrop of light pipeline of projects and deals?
Can banks keep apace as competition amongst lenders heats up?
Wall-to-wall refinancing: How big is the pipeline? How to negotiate and renegotiate terms and conditions in the current market
How can the loan market support companies with lower ratings access FX in the current environment?
Sustainability loans: Do borrowers understand their benefits?

Moderator

Managing Director, Head of Loan Syndicate & Distribution

Speakers

Managing Director, Co-Head of Corporate Origination, Loan Capital Markets, EMEA

Managing Director, Head of CEEMEA Loans & Leveraged Finance

Deputy CEO, Head of Global Capital Markets & Loan Syndications

Managing Director

Head of Corporate Finance and Investment Banking

Networking lunch

Tue 14th Sept 2021, 10:10am (Europe/London)

Sustainable ESG and greenwashing: How quickly and efficiently can companies transition to an ESG framework?

Tue 14th Sept 2021, 11:30am (Europe/London)

How MENA companies define and engrain ESG principles into company culture before issuing ESG bonds/sukuk
What is the strategic value of ESG in the GCC? How to make a good business case for it and why should O&G companies care about sustainability?
Focus on “S” and “G”: What efforts are banks in the region making to promote sustainability and better governance?
How do dedicated ESG investors view the MENA region within the ESG spectrum? Is ESG attracting new dedicated green investors or ESG to retain existing investors? What puts clear water between European institutions and the rest of the world?

Moderator

Managing Director, Head of Sustainable, Asset & Project Finance

Speakers

Partner

Vice President/Director - Corporate Credit Research, Emerging Markets

Vice President

Senior Director, Cross-Practice Coordinator, GCC Region

Head of Debt Capital Markets

So much demand and not enough supply: Are sukuk market technicals stacking up?

Tue 14th Sept 2021, 12:25pm (Europe/London)

Is a lack of supply, and spread tightening, forcing investors to shoulder too much risk?
Working within the framework of the new AAOIFI accounting standards to successfully issue sukuk: How have the costs and benefits for issuers been affected by the changes in standards?
Formosa and taking sukuk global: What are the new characteristics of supply and demand of the sukuk market?

Moderator

Partner

Speakers

Head of Debt Capital Markets

Global Head of Islamic Finance

Head of Debt Capital Markets, MENA

Head of Corporate Finance and Investment Banking

Country Head, UAE

(L)IBOR transition: What are the new benchmark rates, what are the hedging structures and what is the impact on debt pricing?

Tue 14th Sept 2021, 13:20pm (Europe/London)

How can banks help clients to update their systems for LIBOR transition? How can banks help their clients to be more transparent with reporting?
What are the hedging structures based on the new benchmark rates?
What are the new risk-free rates? Do they work? Are they worth it? Are they risk-free?
What is the impact to bond and loan pricing?
What are the consequences and risks for inaction?

Moderator

Managing Director, Head of Solutions Middle East, North Africa & Turkey, Global Markets Solutions & Financing, Corporate & Investment Banking Division

Speakers

Head of Project & Corporate Finance, Wholesale & Institutional Banking

Senior Director, Structuring & Leveraged Finance, Investment Banking

Partner, Head of Banking & Finance (Middle East) and Global Head of Islamic Finance

Treasurer

Chairperson’s closing remarks and close of Day One

Tue 14th Sept 2021, 14:15pm (Europe/London)

Speaker

Senior Managing Director, Head of Global Corporate Finance

Chairperson’s opening remarks

Wed 15th Sept 2021, 6:05am (Europe/London)

Oil-price, inflation, fiscal deficits and ratings: What does post-COVID economic recovery look like?

Wed 15th Sept 2021, 6:10am (Europe/London)

Structural reforms, worse(ning) fiscal positions, rising debt/GDP ratios and cost of debt: How can governments deleverage whilst supporting their economies?
How are GCC governments diversifying their economies away from oil? What does the transition into these new economies look like?
Fed policy and US rates: What will be the impact?
Is inflation coming: Will Big Fiscal drive growth and/or inflation?
What is the new equilibrium price of oil? What is the economic impact to the region at the new price?

Moderator

Vice President, Senior Analyst, Sovereign Risk Group

Speakers

Senior Investment Officer

Head, Financing Solutions

Chief Economist and Head of Research

Portfolio Manager, Global Sukuk and MENA Fixed Income

GCC Structured and project bonds: Is the market finally taking off?

Wed 15th Sept 2021, 7:05am (Europe/London)

Discuss drivers for recent pick-up in activity in the GCC Structured/Project Bond Market
Are we finally witnessing a shift in dynamics for GCC Structured/Project Bonds such that they will represent a continuing theme in the GCC
o Investor views/perception of
o GCC Structured/Project Bonds?
o Holdco/BidCo vs AssetCo transactions?
o Importance of ESG?
Can we expect the market to evolve to accommodate transactions with market risk (i.e. no guaranteed / limited off-take risk)

Moderator

Managing Director, Head of Corporate & Project Finance, Middle East

Speakers

Managing Director, Co-Head CEEMEA Debt Capital Markets

Chief Financial Officer

Director, Acquisitions and Project Finance

Executive Director, Head of Structured Capital Markets

Market liquidity and ALM: How are banks managing their funding and capital under Basel 3 requirements in a post-COVID world?

Wed 15th Sept 2021, 7:50am (Europe/London)

Popping the hood off bank balance sheets: What are the NPL positions of GCC banks now? What will the NPL positions be when forbearance and payment holidays end?
Should the market be concerned by a lack of Tier 2 supply? What impact will a rise in inflation and/or rates have on the hybrid and perpetual market?
How much liquidity is in the system? Where is it finding a home? What are the risks with where it is finding a home?

Moderator

Managing Director, Head of Capital Markets, FIG, AME

Speakers

Head, Portfolio Strategy Management

Managing Director, Head of Research

Senior Managing Director, Group Funding & Investor Relations

Head of Financial Markets

Head of MENA and Turkey Debt Capital Markets

Coffee and networking

Wed 15th Sept 2021, 8:40am (Europe/London)

The GCC/Africa investment corridor: A banking perspective

Wed 15th Sept 2021, 9:10am (Europe/London)

What role are Middle Eastern banks playing in funding the African banks?
> Which MENA banks are lending to African banks and FIs?
> What price, size and tenors can African banks and FIs secure borrowing from MENA banks?
What support can Middle Eastern banks offer African banks and financial institutions?
Which African regions, countries and jurisdictions are MENA banks comfortable lending to?

Moderator

Senior Relationship Manager, Corporate and Institutional Banking

Speakers

Director, Loan Syndicate & Distribution – Investment Banking

Director, Loans & Syndications

Pure Harvest: A case study on structuring, packaging, and selling MENA private credit

Wed 15th Sept 2021, 9:50am (Europe/London)

Originating deals outside of the usual DCM channels: The background to how private credit trades materialise
Connecting SMEs with institutional investors: Advice and preparation
Marrying deal structure with an evolving legal, and bankruptcy regime: What are the security, governance and financial covenants required to attract institutional investors to SMEs?
How is a private credit deal structured? What are the additional complexities when structuring a Sharia-compliant private credit deal?